All Forum Posts by: Garison Clemens

I am mainly looking for a property with value add components. I came across a property listed in Volusia County for 125 (comps are $275k) that was basically half way done, just need flooring it looked like. (Foreclosure) Where/what is the best way to find deals like that? In the central florida market?

Good evening BP.

I am looking for a house with value add components or something with 4 or less units in Seminole, Orange or Volusia county, FL. This will be my first deal(s) and would love to work with a fellow investor here on BiggerPockets. I am looking to learn as well, so please let me know if you have anything that is off the market (or on of course) that you would consider working with me and making a deal. 

Originally posted by @Michael Cohen:

Melvin List is very active on these forums and gives fantastic advice. He's based out of Tampa but you should definitely connect with him.

 Thank you Michael. 

Michael Cohen do you have any lender recommendations in Florida?

Will do. Awesome thank you all!

I am looking to buy my first property soon. I am looking to buy a duplex (in Volusia, Seminole or Orange County Florida) and was wondering if anybody that had student loans was able to still qualify for FHA?

Also, has anybody done first time home buyers program in Florida with FHA? Possibly a 203(k) loan with Florida First Time home buyer. 

Thank you everyone! I am ready to own my first investment property!

Originally posted by @Al Williamson:

I would use the 203(k) to buy the duplex or threeplex. Live in one of the units, then buy your personal residents.

The multifamily asset is the best of the options you presented.

Is there any way to go about buying a personal residence and a rental property? I am looking for a MFH rental and then a SFH for my family.

Either way I will be able to get the 203(k) for the house I live in and then have to do a conventional at 20% down or whatever for the rental? 

Or should I just start with one and acquire the other later on with other ways of financing? Ideally if I get a SFH I would like to acquire the rental to offset my living costs (other than my work income of course). So I think I am stuck with the 3.5 on one, and 20 on the other right?

Thanks!

Ah okay. I agree with you 100%. Thank you! With the process, what would you recommend the process be in obtaining the second property? Which will be strictly a rental

okay thanks guys. And yeah, the good ole wife she really isn't too keen on living in a Multi unit, specially because we have 3 dogs. 

@Ron Flatt how did they find that? Was it listed on the MLS?

I am looking into buying a personal residence but also looking into buying an investment rental property within a year from now as well. 

For my personal residence, I was looking into doing buying a foreclosure with a 203(k) loan, doing some value add, living in it for a year and then maybe finding another residence, and then renting that property out. 

But I would like to buy a rental duplex or triplex as well within the year, is there any suggestions to do both of these deals within the year? How would you all going about doing this if it were you? I am just trying to get a rough game plan together. 

So after those two deals, I would have my personal residence, and then 3 doors of rental properties in my portfolio. Just need some light shed on the best way to get started.